Spices and Seasonings Market by Type, Application (Meat & Poultry Products, Snacks & Convenience Food, Soups, Sauces, and Dressings, Bakery & Confectionery, Frozen Products, Beverages, and Others), & by Region - Global Trends and Forecast to 2020

The spices and seasonings market is estimated to be valued at USD 11.5 Billion in 2015. The market is projected to grow at a CAGR of 5.2% from 2015 to 2020. The global market is segmented on the basis of type and application. It is further segmented on the basis of region into North America, Europe, Asia-Pacific, Latin America, and the Rest of the World (RoW). The study period includes 2014 as the base year, and projections have been made from 2015 to 2020. With the increasing disposable income and changing dietary patterns of the population, the growth in the convenience food industry is expected to enhance the market growth of spices and seasonings.

This report includes estimations of market sizes for value (USD billion/ million) and volume (KT). Both, top-down and bottom-up approaches have been used to estimate and validate the size of the global spices and seasonings market and to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market share in respective regions has been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and were verified through primary sources.

This report provides both, qualitative and quantitative analyses of the spice market, the competitive landscape, and the preferred development strategies of key players. The key players preferred expansions, new product development, acquisitions, joint ventures, investments, and consolidations as preferred strategies to gain a larger share in the market. The report also analyzes the market dynamics and issues faced by leading players.

Upstream players offering spices and seasonings, which include manufacturers and spice associations and boards to other manufacturers involved in food & beverages production, have been included in this report. The key players profiled in the report include McCormick & Company (U.S.), Associated British Foods (U.K.), Kerry Group Plc. (Ireland), Olam International Limited (Singapore), and Ajinomoto Co., Inc. (Japan). Other players that offer spices and seasonings include Ariake Japan Company (Japan), SHS Group (U.K.), Dohler Group (Germany), Worlee Gruppe (Germany), and Sensient Technologies (U.S.).

The report is targeted towards the existing players in the industry, which include spices and seasonings manufacturers, processors, food & beverage associations, preservatives manufacturers, and research institutions. Key participants in the supply chain of spices and seasonings are raw material suppliers, government bodies, distributors, spices and seasonings exporters, and end users such as processed food manufacturers and bakery & confectionery food manufacturers.

“The study answers several questions for stakeholders, primarily which market segments to focus on in next two to five years for prioritizing efforts and investments”.

Scope of the Report

On the basis of Type, the market is segmented as follows:

• Pepper
• Capsicum
• Ginger
• Cinnamon
• Cumin
• Turmeric
• Nutmeg & mace
• Cardamom
• Coriander
• Cloves
• Others (parsley, fennel, juniper berries, saffron, vanilla, sesame, marjoram, oregano, thyme, bay leaves, rosemary, basil, mint, savory, dill, tarragon, sage, mustard, anise, allspice, wasabi, and dehydrated vegetables such as onions)

On the basis of Application, the market is segmented as follows:

• Meat & poultry products
• Snacks & convenience food
• Soups, sauces, and dressings
• Bakery & confectionery
• Frozen products
• Beverages
• Others (spice blends and premixes, dairy products, sweets, liquors, pickles, and functional foods)

On the basis of Region, the market is segmented as follows:

• North America
• Europe
• Asia-Pacific
• Latin America
• RoW

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Product Analysis

• Product matrix, which gives a detailed comparison of the product portfolio of each company

Company Information

• Detailed analysis and profiling of additional market players (Up to five)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Units
    1.6 Stakeholders
    1.7 Limitations

2 Research Methodology (Page No. - 18)
    2.1 Research Data
    2.2 Market Share Estimation
           2.2.1 Secondary Data
                    2.2.1.1 Key Data From Secondary Sources
           2.2.2 Primary Data
                    2.2.2.1 Key Data From Primary Sources
                    2.2.2.2 Key Industry Insights
                    2.2.2.3 Breakdown of Primaries
           2.2.3 Introduction
           2.2.4 Overview of Parent Industry
                    2.2.4.1 Key Factors Influencing the Parent Market
           2.2.5 Demand-Side Analysis
                    2.2.5.1 Developing Economies
                    2.2.5.2 Growing Middle-Class Population
           2.2.6 Supply-Side Analysis
                    2.2.6.1 Regulations
    2.3 Market Size Estimation
    2.4 Market Breakdown & Data Triangulation
           2.4.1 Assumptions

3 Executive Summary (Page No. - 31)
    3.1 Overview
    3.2 Global Spices and Seasonings Market

4 Premium Insights (Page No. - 36)
    4.1 Attractive Market Opportunities for Spices and Seasonings Producers and Processors
    4.2 Spices and Seasonings Market Size, By Region, 2013-2020, (KT)
    4.3 Market in North America, 2014
    4.4 Market, By Type, Value & Volume (2014 vs 2020)
    4.5 Market, By Application (KT)
    4.6 Spices and Seasonings Market Potential

5 Market Overview (Page No. - 42)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 Spices and Seasonings Type
           5.2.2 Application
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Growing Demand for Convenience Foods
                               5.3.1.1.1 Rapidly Increasing Urbanization and Changing Lifestyles
                               5.3.1.1.2 Demand for Convenience Food
                    5.3.1.2 Clean Label: A Clear Trend Across Global Food Markets
                    5.3.1.3 Increased Use of Spices and Seasonings as Natural Preservatives in Meat & Poultry Products
           5.3.2 Restraints
                    5.3.2.1 Adulteration of Spices and Seasonings
           5.3.3 Opportunities
                    5.3.3.1 Increasing Demand for Health and Wellness Products
           5.3.4 Challenges
                    5.3.4.1 Spices and Seasonings are Prone to Microbial Contamination

6 Industry Trends (Page No. - 51)
    6.1 Introduction
    6.2 Spices and Seasonings Market: Supply Chain Analysis
    6.3 Spices and Seasonings Market: Porters Five Forces Analysis
           6.3.1 Intensity of Competitive Rivalry
           6.3.2 Bargaining Power of Suppliers
           6.3.3 Bargaining Power of Buyers
           6.3.4 Threat of Substitutes
           6.3.5 Threat of New Entrants

7 Spices and Seasonings Market, By Type (Page No. - 55)
    7.1 Introduction
    7.2 Pepper
    7.3 Capsicum
    7.4 Ginger
    7.5 Cinnamon
    7.6 Cumin
    7.7 Turmeric
    7.8 Nutmeg & Mace
    7.9 Cardamom
    7.10 Coriander
    7.11 Cloves
    7.12 Others

8 Spices and Seasonings Market, By Application (Page No. - 76)
    8.1 Introduction
    8.2 Meat & Poultry Products
    8.3 Snacks & Convenience Food
    8.4 Soups, Sauces, and Dressings
    8.5 Bakery & Confectionery
    8.6 Frozen Products
    8.7 Beverages
    8.8 Other Applications

9 Spices and Seasonings Market, By Region (Page No. - 90)
    9.1 Introduction
    9.2 North America
           9.2.1 North America: Spices and Seasonings Market, By Type
           9.2.2 North America: Market, By Application
           9.2.3 U.S.: Market, By Application
           9.2.4 Canada: Market, By Application
           9.2.5 Mexico: Market, By Application
    9.3 Europe
           9.3.1 Europe: Spices and Seasonings Market, By Type
           9.3.2 Europe: Market, By Application
           9.3.3 Germany: Market, By Application
           9.3.4 U.K.: Market, By Application
           9.3.5 France: Market, By Application
           9.3.6 Rest of Europe: Market, By Application
    9.4 Asia-Pacific
           9.4.1 Asia-Pacific: Spices and Seasonings Market, By Type
           9.4.2 Asia-Pacific: Market, By Application
           9.4.3 China: Market, By Application
           9.4.4 India: Market, By Application
           9.4.5 Japan: Market, By Application
           9.4.6 Rest of Asia-Pacific: Market, By Application
    9.5 Latin America
           9.5.1 Latin America: Spices and Seasonings Market, By Type
           9.5.2 Latin America: Market, By Application
           9.5.3 Brazil: Market, By Application
           9.5.4 Argentina: Market, By Application
           9.5.5 Rest of Latin America: Market, By Application
    9.6 Rest of the World (RoW)
           9.6.1 RoW: Spices and Seasonings Market, By Type
           9.6.2 RoW: Market, By Application
           9.6.3 South Africa: Spices and Seasonings Market, By Application
           9.6.4 Others in RoW: Spices and Seasonings Market, By Application

10 Competitive Landscape (Page No. - 148)
     10.1 Overview
     10.2 Maximum Developments in Asia-Pacific
     10.3 Ajinomoto Co., Inc.: Most Active Key Player in the Spices and Seasonings Market
     10.4 Highest Number of Developments, 2013 & 2014
     10.5 Competitive Situation and Trends
             10.5.1 Expansions
             10.5.2 Acquisitions
             10.5.3 New Product Launches
             10.5.4 Joint Venture, Investments, and Consolidations

11 Company Profiles (Page No. - 154)
(Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
     11.1 Introduction
     11.2 Mccormick & Company
     11.3 Olam International
     11.4 Ajinomoto Co., Inc.
     11.5 Associated British Foods PLC
     11.6 Kerry Group PLC
     11.7 Ariake Japan Co., Ltd.
     11.8 Sensient Technologies
     11.9 Döhler Group
     11.10 SHS Group
     11.11 Worlée Gruppe

*Details on Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 180)
     12.1 Discussion Guide
     12.2 Company Developments
             12.2.1 Expansions
             12.2.2 New Product Launch
             12.2.3 Acquisitions
             12.2.4 Joint Venture
     12.3 Introducing RT: Real-Time Market Intelligence
     12.4 Available Customizations
     12.5 Related Reports

List of Tables (108 Tables)

Table 1 Spices and Seasonings Market Size, By Type, 2013-2020 (USD Million)
Table 2 Market Size, By Type, 2013-2020 (KT)
Table 3 Pepper Market Size, By Region, 2013-2020 (USD Million)
Table 4 Pepper Market Size, By Region, 2013-2020 (KT)
Table 5 Capsicum Market Size, By Region, 2013-2020 (USD Million)
Table 6 Capsicum Market Size, By Region, 2013-2020 (KT)
Table 7 Ginger Market Size, By Region, 2013-2020 (USD Million)
Table 8 Ginger Market Size, By Region, 2013-2020 (KT)
Table 9 Cinnamon Market Size, By Region, 2013-2020 (USD Million)
Table 10 Cinnamon Market Size, By Region, 2013-2020 (KT)
Table 11 Cumin Market Size, By Region, 2013-2020 (USD Million)
Table 12 Cumin Market Size, By Region, 2013-2020 (KT)
Table 13 Turmeric Market Size, By Region, 2013-2020 (USD Million)
Table 14 Turmeric Market Size, By Region, 2013-2020 (KT)
Table 15 Nutmeg & Mace Market Size, By Region, 2013-2020 (USD Million)
Table 16 Nutmeg & Mace Market Size, By Region, 2013-2020 (KT)
Table 17 Cardamom Market Size, By Region, 2013-2020 (USD Million)
Table 18 Cardamom Market Size, By Region, 2013-2020 (KT)
Table 19 Coriander Market Size, By Region, 2013-2020 (USD Million)
Table 20 Coriander Market Size, By Region, 2013-2020 (KT)
Table 21 Cloves Market Size, By Region, 2013-2020 (USD Million)
Table 22 Cloves Market Size, By Region, 2013-2020 (KT)
Table 23 Others Market Size, By Region, 2013-2020 (USD Million)
Table 24 Others Market Size, By Region, 2013-2020 (KT)
Table 25 Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 26 Market Size, By Application, 2013–2020 (KT)
Table 27 Meat & Poultry Products Market Size, By Region, 2013–2020 (USD Million)
Table 28 Meat & Poultry Products Market Size, By Region, 2013–2020 (KT)
Table 29 Snacks & Convenience Food Market Size, By Region, 2013–2020 (USD Million)
Table 30 Snacks & Convenience Food Market Size, By Region, 2013–2020 (KT)
Table 31 Soups, Sauces, and Dressings Market Size, By Region, 2013–2020 (USD Million)
Table 32 Soups, Sauces, and Dressings Market Size, By Region, 2013–2020 (KT)
Table 33 Bakery & Confectionery Market Size, By Region, 2013–2020 (USD Million)
Table 34 Bakery & Confectionery Market Size, By Region, 2013–2020 (KT)
Table 35 Frozen Rpoducts Market Size, By Region, 2013–2020 (USD Million)
Table 36 Frozen Products Market Size, By Region, 2013–2020 (KT)
Table 37 Beverages Market Size, By Region, 2013–2020 (USD Million)
Table 38 Beverages Market Size, By Region, 2013–2020 (KT)
Table 39 Other Applications Market Size, By Region, 2013–2020 (USD Million)
Table 40 Other Applications Market Size, By Region, 2013–2020 (KT)
Table 41 Spices and Seasonings Market Size, By Region, 2013-2020 (USD Million)
Table 42 Market Size, By Region, 2013-2020 (KT)
Table 43 North America: Spices and Seasonings Market Size, By Country, 2013–2020 (USD Million)
Table 44 North America: Market Size, By Country, 2013–2020 (KT)
Table 45 North America: Market Size, By Type, 2013–2020 (USD Million)
Table 46 North America: Market Size, By Type, 2013–2020 (KT)
Table 47 North America: Market Size, By Application, 2013–2020 (USD Million)
Table 48 North America: Market Size, By Application, 2013–2020 (KT)
Table 49 U.S.: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 50 U.S.: Market Size, By Application, 2013–2020 (KT)
Table 51 Canada: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 52 Canada: Market Size, By Application, 2013–2020 (KT)       104
Table 53 Mexico: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 54 Mexico: Market Size, By Application, 2013–2020 (KT)
Table 55 Europe: Spices and Seasonings Market Size, By Country, 2013–2020 (USD Million)
Table 56 Europe: Market Size, By Country, 2013–2020 (KT)
Table 57 Europe: Market Size, By Type, 2013–2020 (USD Million)
Table 58 Europe: Market Size, By Type, 2013–2020 (KT)
Table 59 Europe: Market Size, By Application, 2013–2020 (USD Million)
Table 60 Europe: Market Size, By Application, 2013–2020 (KT)
Table 61 Germany: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 62 Germany: Market Size, By Application, 2013–2020 (KT)
Table 63 U.K.: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 64 U.K.: Market Size, By Application, 2013–2020 (KT)
Table 65 France: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 66 France: Market Size, By Application, 2013–2020 (KT)
Table 67 Rest of Europe: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 68 Rest of Europe: Market Size, By Application, 2013–2020 (KT)
Table 69 Asia-Pacific: Spices and Seasonings Market Size, By Country, 2013–2020 (USD Million)
Table 70 Asia-Pacific: Market Size, By Country, 2013–2020 (KT)
Table 71 Asia-Pacific: Market Size, By Type, 2013–2020 (USD Million)
Table 72 Asia-Pacific: Market Size, By Type, 2013–2020 (KT)
Table 73 Asia-Pacific: Market Size, By Application, 2013–2020 (USD Million)
Table 74 Asia-Pacific: Market Size, By Application, 2013–2020 (KT)
Table 75 China: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 76 China: Market Size, By Application, 2013–2020 (KT)
Table 77 India: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 78 India: Market Size, By Application, 2013–2020 (KT)
Table 79 Japan: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 80 Japan: Market Size, By Application, 2013–2020 (KT)
Table 81 Rest of Asia-Pacific: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 82 Rest of Asia-Pacific: Market Size, By Application, 2013–2020 (KT)
Table 83 Latin America: Spices and Seasonings Market Size, By Country, 2013–2020 (USD Million)
Table 84 Latin America: Market Size, By Country, 2013–2020 (KT)
Table 85 Latin America: Market Size, By Type, 2013–2020 (USD Million)
Table 86 Latin America: Market Size, By Type, 2013–2020 (KT)
Table 87 Latin America: Market Size, By Application, 2013–2020 (USD Million)
Table 88 Latin America: Market Size, By Application, 2013–2020 (KT)
Table 89 Brazil: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 90 Brazil: Market Size, By Application, 2013–2020 (KT)
Table 91 Argentina: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 92 Argentina: Market Size, By Application, 2013–2020 (KT)
Table 93 Rest of Latin America: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 94 Rest of Latin America: Market Size, By Application, 2013–2020 (KT)
Table 95 RoW: Spices and Seasonings Market Size, By Country, 2013–2020 (USD Million)
Table 96 RoW: Market Size, By Country, 2013–2020 (KT)
Table 97 RoW: Market Size, By Type, 2013–2020 (USD Million)
Table 98 RoW: Market Size, By Type, 2013–2020 (KT)
Table 99 RoW: Market Size, By Application, 2013–2020 (USD Million)
Table 100 RoW: Market Size, By Application, 2013–2020 (KT)
Table 101 South Africa: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 102 South Africa: Market Size, By Application, 2013–2020 (KT)
Table 103 Others in RoW: Spices and Seasonings Market Size, By Application, 2013–2020 (USD Million)
Table 104 Others in RoW: Market Size, By Application, 2013–2020 (KT)
Table 105 Expansions, 2012–2015
Table 106 Acquisitions, 2011–2015
Table 107 New Product Launches, 2012–2015
Table 108 Joint Ventures, Investments, and Consolidations, 2012–2014

List of Figures (95 Figures)

Figure 1 Market: Research Design
Figure 2 Breakdown of Primary Interviews, By Company Type, Designation & Region
Figure 3 GDP (PPP) of Top Economies, 2014
Figure 4 Middle-Class Population in Asia-Pacific Projected to Account for the Largest Share in the Global Market By 2030
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Market Breakdown & Data Triangulation
Figure 8 Spices and Seasonings Market, Be Type, 2014 vs 2020 (USD Million)
Figure 9 Snacks & Convenience Application Segment to Register the Highest CAGR in Terms of Value Between 2015 & 2020
Figure 10 India is Projected to Be the Fastest-Growing Country-Level Market for Spices and Seasoningss
Figure 11 Attractive Growth Opportunities in this Market for Manufacturers
Figure 12 Spices and Seasonings Market: Asia-Pacific to Grow at the Fastest Rate From 2015 to 2020
Figure 13 The U.S. Accounted for the Largest Share in the Global Market in 2014
Figure 14 Capsicum Segment to Grow at the Highest CAGR From 2015 to 2020
Figure 15 Meat & Poultry Products Segment Dominated the Global Market Across All Regions in 2014
Figure 16 Asia-Pacific is Projected to Grow at the Highest CAGR
Figure 17 Market Segmentation
Figure 18 Market Segmentation, By Type
Figure 19 Market Segmentation, By Application
Figure 20 Growing Demand for Convenience Food and Meat & Poultry Products is Expected to Drive the Global  Market in the Future
Figure 21 Spices and Seasonings Market: Supply Chain Analysis
Figure 22 Spices and Seasonings Market : Porters Five Forces Analysis
Figure 23 Market, By Type
Figure 24 Market, By Type, 2014 vs 2020 (USD Million)
Figure 25 Pepper Market, By Region, 2014 vs 2020 (USD Million)
Figure 26 Capsicum Market Size, By Region, 2014 vs 2020 (USD Million)
Figure 27 Ginger Market Size, By Region, 2014 vs 2020 (USD Million)
Figure 28 Cinnamon Market, By Region, 2014 vs 2020 (USD Million)
Figure 29 Cumin Market, By Region, 2014 vs 2020 (USD Million)
Figure 30 Turmeric Market, By Region, 2014 vs 2020 (USD Million)
Figure 31 Nutmeg & Mace Market Size, By Region, 2014 vs 2020 (USD Million)
Figure 32 Cardamom Market, By Region, 2014 vs 2020 (USD Million)
Figure 33 Coriander Market, By Region, 2014 vs 2020 (USD Million)
Figure 34 Cloves Market, By Region, 2014 vs 2020 (USD Million)
Figure 35 Spices and Seasonings Market, By Application
Figure 36 Meat & Poultry Products Accounted for Largest Market Size in the Spices and Seasonings Market in 2014
Figure 37 North America Led the Meat & Poultry Products Segment of the Spices and Seasonings Market, 2014
Figure 38 North America to Lead the Snacks & Convenience Food Segment During the Forecast Period
Figure 39 North America to Dominate the Soups, Sauces, and Dressings Segment By 2020
Figure 40 North America is Projected to Lead the Bakery & Confectionery Segment During the Forecast Period
Figure 41 North America is Projected to Lead the Frozen Products Segment During the Forecast Period
Figure 42 North America is Projected to Lead the Beverages Segment During the Forecast Period
Figure 43 North America is Expected to Dominate the Global Market By 2020
Figure 44 Regional Snapshot: Asia-Pacific and Latin America to Be the Most Attractive Markets for Spices and Seasonings Processors
Figure 45 North American Spices and Seasonings Market Snapshot: U.S. Accounted for the Largest Share
Figure 46 U.S. to Lead the North American Spices and Seasonings Market By 2020
Figure 47 Pepper Segment Held the Largest Market Size in the North American Spices and Seasonings Market in 2014
Figure 48 Meat & Poultry Products Segment Accounted for the Largest Share in the North American Spices and Seasonings Market in 2014
Figure 49 Meat & Poultry Products Segment is Projected to Lead the U.S. Spices and Seasonings Market By 2020
Figure 50 Meat & Poultry Products Segment Dominated the Canadian Spices and Seasonings Market in 2014
Figure 51 Meat & Poultry Products Segment to Grow at the Highest CAGR in the Mexican Spices and Seasonings Market, 2015–2020
Figure 52 Germany is Expected to Dominate this Market in Europe During the Forecast Period
Figure 53 Pepper Segment Held the Largest Share in the European Spices and Seasonings Market in 2014
Figure 54 Meat & Poultry Products Segment to Grow at the Highest CAGR in the European Spices and Seasonings Market From 2015–2020
Figure 55 Meat & Poultry Products Segment is Expected to Dominate the German Spices and Seasonings Market By 2020
Figure 56 Meat & Poultry Products Segment Led the U.K. Spices and Seasonings Market in 2014
Figure 57 Meat & Poultry Products Segment is Expected to Dominate the global Market in France During the Forecast Period
Figure 58 Meat & Poultry Products Segment to Grow at the Highest CAGR in Rest of Europe’s Spices and Seasonings Market, 2015–2020
Figure 59 Asia-Pacific Spices and Seasonings Market Snapshot: India Accounted for the Largest Market Share, By Consumption
Figure 60 China to Dominate the Market for Spices and Seasonings in Asia-Pacific By 2020
Figure 61 Pepper Held the Largest Share in the Asia-Pacific Spices and Seasonings Market in 2014
Figure 62 Snacks & Convenience Food Segment Held the Largest Share in the Asia-Pacific Spices and Seasonings Market in 2014
Figure 63 Snacks & Convenience Food Segment Led the Chinese Spices and Seasonings Market in 2014
Figure 64 Snacks & Convenience Food Segment to Grow at the Highest CAGR in the Indian Spices and Seasonings Market During the Forecast Period
Figure 65 Snacks & Convenience Food Segment is Expected to Dominate the Global Market in Japan By 2020
Figure 66 Snacks & Convenience Food to Lead the Global Market in Rest of Asia-Pacific By 2020
Figure 67 Brazil is Expected to Dominate the Spices and Seasonings Market in Latin America By 2020
Figure 68 Pepper Held the Largest Share in the Latin American Spices and Seasonings Market in 2014
Figure 69 Meat & Poultry Products are Expected to Grow at the Highest CAGR in the Latin American Spices and Seasonings Market Till 2020
Figure 70 Snacks & Convenience Food Segment is Projected to Lead the Brazilian Spices and Seasonings Market By 2020
Figure 71 Snacks & Convenience Food Segment to Dominate the Argentinean Spices and Seasonings Market By 2020
Figure 72 Snacks & Convenience Food Segment Held the Largest Share in the Rest of Latin American Spices and Seasonings Market in 2014
Figure 73 South Africa to Lead the RoW Spices and Seasonings Market During the Forecast Period
Figure 74 Pepper Held the Largest Share in the RoW Spices and Seasonings Market in 2014
Figure 75 Snacks & Convenience Food Segment Accounted for the Largest Share in the RoW Spices and Seasonings Market in 2014
Figure 76 Snacks & Convenience Food Segment is Projected to Lead the South African Spices and Seasonings Market By 2020
Figure 77 Snacks & Convenience Food Segment to Dominate the Others in RoW Spices and Seasonings Market By 2020
Figure 78 Companies Adopted Expansions and Acquisitions as Their Key Growth Strategies From 2011 to 2015
Figure 79 Key Growth Strategies in the Global Market, 2011–2015
Figure 80 Asia-Pacific: Most Active Region From 2011 to 2015
Figure 81 Most Active Companies, 2011–2015
Figure 82 Number of Developments, 2011–2015
Figure 83 Geographic Revenue Mix of Top Five Market Players
Figure 84 Mccormick & Company, Inc.: Company Snapshot
Figure 85 Mccormick & Company, Inc.: SWOT Analysis
Figure 86 Olam International: Company Snapshot
Figure 87 Olam International: SWOT Analysis
Figure 88 Ajinomoto Co., Inc.: Company Snapshot
Figure 89 Ajinomoto Co., Inc.: SWOT Analysis
Figure 90 Associated British Foods PLC: Company Snapshot
Figure 91 Associated British Foods PLC: SWOT Analysis
Figure 92 Kerry Group PLC: Company Snapshot
Figure 93 Kerry Group PLC: SWOT Analysis
Figure 94 Ariake Japan Co.,Ltd.: Company Snapshot
Figure 95 Sensient Technologies: Company Snapshot

The global spices and seasonings market is projected to grow at a CAGR of 5.2% from 2015 to reach a projected value of USD 14.8 Billion by 2020. The global market is driven by factors such as increased demand for snacks & convenience food and meat & poultry products due to changing consumer preferences. Furthermore, factors such as increasing disposable income and rapid urbanization have also increased the demand for spices and seasonings. The high growth potential in emerging markets and untapped regions provide new growth opportunities for market players.

Among the applications of spices and seasonings, meat & poultry products accounted for the largest market share, followed by snacks & convenience food; soups, sauces & dressings; bakery & confectionery; frozen products; and beverages. The demand for snacks & convenience food is expected to rise due to changing dietary patterns of consumers due to their changing consumer lifestyle.

Based on types, the global market is led by the pepper segment, followed by the capsicum segment. The use of pepper as a key ingredient in various cuisines has increased globally. Furthermore, it is also used to treat fever, asthma, cough, dyspepsia, flatulence, and arthritis. This has led to an increased demand for pepper for Ayurvedic medicines.

North America is the largest importer and consumer of spices and seasonings, thus accounting for the largest share in 2014 in the spices and seasonings market, followed by Europe and Asia-Pacific. The Asia-Pacific region is projected to be the fastest-growing market with investments from key players in the market, especially in India, due to the large spice production, low-cost labor, and lower prices of spices in this country.

The rising consumer awareness with regard to the medicinal benefits associated with the consumption of spices is also expected to increase the demand for spices and seasonings globally. However, increasing instances of unfair trade practices such as adulteration are expected to restrain the market growth. Though the prices of spices and seasonings are highly volatile and vary across different regions, the market is expected to grow at a significant rate.

The key market players that dominated the spices and seasonings market include McCormick & Company, Inc. (U.S.), Ajinomoto Co., Inc. (Japan), Olam International (Singapore), Associated British Foods plc (U.K.), Kerry Group plc (Ireland), ARIAKE JAPAN Co., Ltd. (Japan), SHS Group (Ireland), Worlée Gruppe (Germany), Döhler Group (Germany), and Sensient Technologies (U.S.). Most key participants have been exploring new regions through expansions and new product launches across the globe to avail a competitive advantage through combined synergies. Since 2011, the market has witnessed an increase in demand, especially in developing nations such as India, China, Brazil, and Mexico.